MCQ Questions

Question No. 1

True or False.

Answer :

a) Technology always replaces old methods completely.

b) India’s adult literacy rate is 100%.

c) Entrepreneurs derive satisfaction from contributing to society.

d) Labour-intensive industries require more machines than people.

e) Capital includes both money and man-made resources.

f) Social and cultural values play no role in shaping human capital.

g) Preventive healthcare helps in reducing medical costs.

Question No. 2

Fill in the blanks.

Answer :

a) In economics, the term ________ includes soil, water, forests, minerals, and air.

b) Without ________ effort, natural resources cannot be turned into useful products.

c) Training through internships and workshops makes learning ________.

d) Healthy adults are able to work with greater energy, creativity, and ________.

e) The stock market is a place where company ________ are bought and sold.

f) Improper disposal of e-waste releases harmful substances such as ________ and mercury.

g) CSR stands for ________.

Question No. 3

Short Type Questions

Answer :

a) Define factors of production with examples.

c) How does education contribute to human development?

e) Why is capital considered the backbone of economic activities?

b) What is meant by human capital?

d) Give two differences between labour-intensive and capital-intensive industries.

f) Mention two responsibilities of businesses towards workers.

g) What role did Scandinavian cultural values play in their economic progress?

Question No. 4

Match the following:

Answer :

Question No. 5

Which of the following is NOT a factor of production?

Answer :

Land

Labour

Money alone

Technology

Question No. 6

Which of the following is NOT a factor of production?

Answer :

Land

Labour

Money alone

Technology

Question No. 7

Human effort improved with education, training, and healthcare is called:

Answer :

Natural wealth

Human capital

Social capital

Physical capital

Question No. 8

Country, that is often associated with the cultural value of “discipline and dedication” leading to rapid progress:

Answer :

Brazil

South Korea

Sri Lanka

Australia

Question No. 9

Which of these sectors is labour-intensive?

Answer :

Satellite launch

Semiconductor industry

Handicrafts

Automobile manufacturing

Question No. 10

A person who introduces new ideas, takes risks, and organises resources is called:

Answer :

Labourer

Entrepreneur

Manager

Investor

Question No. 11

A person who introduces new ideas, takes risks, and organises resources is called:

Answer :

Labourer

Entrepreneur

Manager

Investor

Question No. 12

Which of the following examples shows responsible use of resources?

Answer :

Overuse of groundwater

Dumping e-waste in open landfills

Recycling old materials

Untreated factory waste in rivers

Question No. 13

The share of profit given to shareholders is known as:

Answer :

Salary

Bonus

Dividend

Rent

Chapter

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